SAN CLEMENTE, Calif., Aug. 3, 2017 /PRNewswire/ -- SUNSET ISLAND GROUP, INC. (OTCQB: SIGO) announced today that they have looked at additional expansion space that's available and that they are now considering 230,000 square feet of cannabis grow space.
CEO T.J. Magallanes stated, "We have a very solid plan for accessing additional capital for expansion that will more than meet our previously announced expansion plans. With that being said, as a result of recent discussions with our current lease holder, it has come to our attention that up to 230K square feet of additional grow space could become available soon at very favorable terms. We are strongly considering this option based on the terms presented. Based on the results of our first harvest and the overall performance of our team, we are of the opinion that we should be able to scale up production at a much quicker pace than originally expected."
CFO Valerie Baugher stated, "Even if we do not immediately put all of that square footage into production, another consideration is the permitting and licensing requirements that will be put into effect across the state of California at the beginning of next year. Every indication points to less growers across the state as the legal requirements become more stringent. Having a surplus of square footage could become an advantage to us if in fact the demand for product becomes more than available supply."
Mr. Magallanes went on to say, "We are working out the details on two more pieces of very exciting news and will share with our investors in the coming weeks. If both of these come to fruition, there's no doubt in our minds that investors will be extremely pleased with their investment in Sunset Island Group."
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
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CEO T.J. Magallanes stated, "We have a very solid plan for accessing additional capital for expansion that will more than meet our previously announced expansion plans. With that being said, as a result of recent discussions with our current lease holder, it has come to our attention that up to 230K square feet of additional grow space could become available soon at very favorable terms. We are strongly considering this option based on the terms presented. Based on the results of our first harvest and the overall performance of our team, we are of the opinion that we should be able to scale up production at a much quicker pace than originally expected."
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CFO Valerie Baugher stated, "Even if we do not immediately put all of that square footage into production, another consideration is the permitting and licensing requirements that will be put into effect across the state of California at the beginning of next year. Every indication points to less growers across the state as the legal requirements become more stringent. Having a surplus of square footage could become an advantage to us if in fact the demand for product becomes more than available supply."
Mr. Magallanes went on to say, "We are working out the details on two more pieces of very exciting news and will share with our investors in the coming weeks. If both of these come to fruition, there's no doubt in our minds that investors will be extremely pleased with their investment in Sunset Island Group."
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
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SOURCE Sunset Island Group, Inc.
